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Optimum Communications Offers to Buy Back 40% of Shares

Optimum Communications logoOptimum Communications
Sig2.48Sen+1.72Env0.00Soc0.00Gov0.00

Optimum Communications offered to buy back about 40% of its shares at a fixed $2.50 per share, driven by Patrick Drahi. An investor described the tender offer as downside protection and reported a profitable arbitrage position, noting OPTU shares had fallen sharply over longer horizons but performed better for the fund during the period discussed.

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